Blumhouse Bringing its Micro-Budget Concept to TV with Universal Cable
Debi Moore
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Jason Blum and his Blumhouse Productions have been burning up the box office with the micro-budget horror film concept, and now they’re branching out to TV with Universal Cable Productions. Read on for the details of how you might soon be watching his latest projects on the small screen via Syfy and/or USA Network.
From the Press Release:
Universal Cable Productions (UCP) and Blumhouse Productions (The “Paranormal Activity,” “The Purge,” “Insidious,” and “Sinister” franchises) today announced they have entered into a multi-year production agreement that will implement a micro-budget financial and creative structure for television series.
The deal, announced today by Jeff Wachtel, President and Chief Content Officer, NBCUniversal Cable Entertainment, and Jason Blum, Founder and CEO, Blumhouse Productions, is the first to materialize from the first-look production agreement Blumhouse signed earlier this year with NBCUniversal and will focus on creating scripted and non-scripted programming leveraging the “micro-budget” model that has made Blumhouse a profit powerhouse in the film industry. As part of the agreement, Syfy and USA Network have each given Blumhouse and UCP a blind series commitment.
“Blumhouse has achieved tremendous financial and creative success with its production model in the feature film business, and together we figured out a way to adapt the model for television. It’s part of our studio’s strategy of being flexible with existing models and finding new ways to bring great ideas to market,” said Wachtel. “And because real success is always in the execution, we would only do this type of deal with a company like Blumhouse, who we know can deliver the quality.”
Blumhouse is bringing its feature film model to television with a plan to create an entire season of a scripted series for the average production cost of a traditional cable pilot. As in Blumhouse’s feature film model, this new financial model for television involves low upfront production costs including no fee for Blumhouse coupled with performance-based incentives, which for television will be triggered by a season 2 and subsequent season pick-ups. As part of the model, showrunners, like Blumhouse’s feature film directors, get more creative control and the opportunity to make their dream show. In today’s highly competitive market, this model allows for the low-cost production of high quality television content and sets the stage for future productions to attract top talent.
Jason Blum said: “When we launched our television business, one of our goals was to try and build on what we have done in film – keeping budgets low to give storytellers creative freedom and to increase profits. Jeff Wachtel and his entire team at Universal Cable Productions have been at the forefront of trying new models in television, and we are grateful to be a small part of their process. We are excited to get going as we partner with both new and established showrunners looking to tell their favorite stories.”
Blumhouse’s micro-budget, high-quality franchise films have grossed more than $1.4 billion worldwide on combined budgets under $45 million. Under its Head of Television Jessica Rhoades, Blumhouse has recently expanded into TV production with “Ascension” on Syfy, “South of Hell” at WE TV, “Eye Candy” at MTV, and development deals at a number of networks. Blum executive produced the upcoming HBO documentary series “The Jinx: The Life and Deaths of Robert Durst” and won an Emmy for his producing role on HBO’s “The Normal Heart”.
As part of the overall deal with NBCUniversal, Universal Cable Productions and Universal Television share in the first look deal with Blumhouse. The “micro-budget” TV agreement is specific to UCP.
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